SEON gives online businesses freedom from fraud ahead of Black Friday
By Joy Dumasia
SEON, the fraud fighters, announces it will provide online businesses with free fraud detection for 30 days to ensure they are fully protected throughout Black Friday, a time when cyberattacks will surge.
Last year there were more than 18,000 fraud attempts on average made against each UK retailer during the Golden Quarter. It is predicted that the figure will reach 20,000 in 2021, costing each business £38,000, and SEON aims to drive this number down by making its fraud detection solution free to use in the run-up to Black Friday and beyond.
The last 18 months have seen both eCommerce and digital fraud increase exponentially, particularly during the ‘Golden Quarter’ that extends through Halloween to New Year’s Day and incorporates significant shopping days like Black Friday and Cyber Monday.
SEON believes that fraud prevention should be accessible for all eCommerce businesses, payment service providers, payment gateways, and buy now pay later providers. With transparent and cost-effective pricing, businesses of any size can use SEON to connect to their systems and enhance their fraud detection process.
Bence Jendruszak, Co-Founder and COO at SEON, said: “We are going further than any other fraud prevention company by making our fraud detection technology available to the world’s entire eCommerce marketplace throughout one of the most profitable and most dangerous times of the year. Our company was founded on the idea that fraud-fighting should be for everyone: every company, no matter how small or niche, should be able to do business online without losing a significant part of their profits to criminals. We also know that those criminals don’t just target the major companies but can attack any business of any size. Our hope is when these criminals start seeing more sites protected by SEON, when a higher percentage of their fraud attempts fail, they’ll start giving up, and we’ll be done with what has been a very difficult time for companies around the world.”
IBSi Daily News Analysis
September 22, 2023
The Weekly Wrap: all you need to know by Friday COB | September 22ndRead More
IBSi FinTech Journal
- Most trusted FinTech journal since 1991
- Digital monthly issue
- 60+ pages of research, analysis, interviews, opinions, and rankings
- Global coverage